Practical ways to manage data in an organization
Effective data management is essential for any organization to function efficiently, requiring a mix of the right people, knowledge and suitable tools. The two critical dimensions of this process are Data Architecture and Master Data Management (MDM). Data Architecture refers to the overall structure and organization of data, involving how data is stored, categorized, accessed and used within a system. It serves as the foundation for understanding and making decisions about large sets of organizational data.
A well-defined data architecture is crucial for facilitating new business initiatives, organizing data, implementing Data Governance and avoiding the costs associated with chaotic data sets. Various modelling and scanning tools are available to aid in creating robust data architecture. Once established, data architecture sets the stage for master data management.
MDM is a discipline where business and IT collaborate to ensure the uniformity, accuracy, governance, consistency and accountability of shared enterprise data. This ensures critical data is consistent, up-to-date and accessible across the organization, enabling better client profiling and personalized offerings. By organizing data clearly and early, organizations can sustain growth and governance effectively.
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